Lehman Bros. Wins $7.3M In Mortgage Suit

Law360, New York (December 14, 2007, 12:00 AM EST) -- A federal jury has awarded Lehman Brothers Holdings Inc. $7.3 million in a case in which Lehman Brothers accused the defendants of conspiring to get a Lehman subsidiary to fund millions of dollars in mortgage loans secured by properties worth only a fraction of their sale prices.

The jury verdict form, which bears Thursday's date, said that Equitable Title of Florida Inc. was liable for $2,804,400 in damages stemming from breach of contract claims and that Passarelli & Potts Appraisal Service Inc. owed $4,456,682.10 for negligent...